Possible new job quandry

roundthebend

My current job has been stifling me for a long while. But Im lucky enough to get paid well, have flexible working, have learned loads, and it's only a 15 minute cycle ride to the office. When I say "stifling" I mean that I have the desire to do more than my current role, but the usual bureaucracy and middle management gets in the way of it.

I'm looking at other opportunities but I'm finding my current commute is actually a double-edged sword - it's making it really difficult to contemplate anything else. My most likely option is to get a job in London where I'm quite likely to get the kind of opportunity that I'm after, and also the finances can stack up to make it tempting.

The commute to London would be a 25 minute cycle to the station, followed by a 50 minute train journey to King's Cross, then a 15-20 minute tube or walk. That's gonna add 3 - 3.5 hours to every day, and that's without taking into account the inevitable delays. It would be a massive change to my work/life balance meaning sacrifices for me and my wife - she'd have to take the kids to evening clubs and the eldest to his work, and I'd have less chance to ride with my cycling group and stuff.

So, I did some figures and reckon if I get one of the higher paid jobs I'm chasing, then I'd earn enough to cover my mortgage payment each month. I mean, the additional earnings would be roughly the same as my monthly mortgage is currently, which feels like a substantial amount. It's probably worth adding that our current house is likely to be perfect for the next 10 years or more, so equating it that way seems appropriate.

But I'm just not sure it makes enough sense. I'm worried that when I first get stuck on a train in Biggleswade for 2 hours that I'll start to hate the job and the small extra income.

On top of that, I wouldn't want to start a permanent job with that concern in my head, because I'd hate to let the employer down after a couple of months or so. With that in mind I am being very open about these concerns with recruitment agents and potential employers.

My other option is to "go contracting". I'm a software developer and it can be very lucrative to be self-employed, plenty of jobs around and it would give me the chance to test the commute with less commitment to doing it long-term and better financials to balance it out. Plus I could take days off more freely, unpaid of course, and I'd be more within my rights to leave earlier to get back for things, provided I only charged for the hours done. Of course, I'd have to clear that with the clients but I think that would be possible in most cases.

So, bit of a dilemma. At the moment I have nothing on the table, just interviews, but I don't want to waste anyones' time and I certainly don't want to take a day off and pay for train tickets to go to interviews when I'm not totally sure it's gonna make sense.

Give me your thoughts people.

Cheers.

Foster

To me adding maybe a half hour each way is justifiable if your current commute is only 15 minutes. To add an extra 3 hours to each working day with risks of delays outweighs any possible extra cash. Especially as it means giving up family time and hobbies.

Contracting is good but there's a lot of risks that you don't get when employed - for a start you have to faff around with tax, you don't get paid holidays and there is a risk of dry spells, make sure you build up a nest egg just in case

TTony

Money is no substitute for your time.

You quickly get used to the extra money, and end up spending it quite easily on "stuff" that has no real value.

But you never get that time back.



I speak as someone who has spent many years with a 2hr commute to work, and a 2hr commute back.

UnclePsychosis

I went from a forty minute commute to a 75 minute commute. 

There's absolutely no way I'd go for a 95 minute one,  particularly when you're relying on trains in and around London. 

roundthebend

Foster said:

To me adding maybe a half hour each way is justifiable if your current commute is only 15 minutes. To add an extra 3 hours to each working day with risks of delays outweighs any possible extra cash. Especially as it means giving up family time and hobbies.

Contracting is good but there's a lot of risks that you don't get when employed - for a start you have to faff around with tax, you don't get paid holidays and there is a risk of dry spells, make sure you build up a nest egg just in case

Cheers @Foster . You're right about the risks with contracting. The standard, entry level, day rate for my kind of role is sufficient that I would be able to take home a considerable extra amount. Easily enough to build a nest egg, and probably enough to clear some debt and enjoy a nice holiday etc. There also seems to be quite a lot of work around and my skills seem to be current and future-proofed enough that I'm not overly concerned by it. Even if the commute does my head in I could probably cope with 6 months while I rethink.

With either of the London-based options I'm going to have to learn a different way of organising my life. I'm quite excited for using the commute to read, listen to podcasts, write blogs, and stuff. Fortunately, my kids are both quite grown up so can be independent if required for a few hours, and my wife works school hours so she's always available for them anyway.

roundthebend

TTony said:

Money is no substitute for your time.

You quickly get used to the extra money, and end up spending it quite easily on "stuff" that has no real value.

But you never get that time back.



I speak as someone who has spent many years with a 2hr commute to work, and a 2hr commute back.

There is definitely a risk of that. I think my breakfast and lunch costs would rocket, so I'd have to be disciplined around that. If I was contracting then I'd set myself very strict targets of clearing debt, home improvements that I've been putting off etc. Things that would be worthwhile, rather than pointless stuff. I'm quite good at controlling my spending, so it's only a minor concern.

DrJazzTap

roundthebend said:

My current job has been stifling me for a long while. But Im lucky enough to get paid well, have flexible working, have learned loads, and it's only a 15 minute cycle ride to the office. When I say "stifling" I mean that I have the desire to do more than my current role, but the usual bureaucracy and middle management gets in the way of it.

I've actually ended up in this scenario twice, well apart from the well paid bit

I'm starting a new job tomorrow which is about an hours drive away. And I think I've only got the job as I can drive. I'm actually excited, as fingers crossed it's a job I can get my teeth sunk into.

If I was to start cycling to work, it would be three hours a day on the bike. Maybe in the summer, I don't know. I think I might just have to join a gym.

TTony

roundthebend said:

 If I was contracting 

Contracting introduces a whole new set of questions / options / trade-offs.

"Job" in London vs job locally is one decision.  That'll come down to the trade-off of extra money vs loss of "life".  I'll add one further comment in that it's easy to adjust to the extra money (if you move your job to London) but a lot more difficult to adjust to the loss of that extra money - ie you might find yourself locked-in.  And don't forget that all the extra costs (my travel used to cost me 1k/mth) come out of after-tax income.

For contracting, if you have a protectable niche (experience, skills, network), then you can earn a lot more than in a job.  If you don't have that niche, then there are always lots of people out there who will sell their time cheaper and undercut you.

roundthebend

@TTony for all my calculations I've factored in that I'd be using Salary Sacrifice to buy my travel tickets. So, any prospective employer would need to offer that option or I'd need even more salary to cover the tax loss.

Wise words indeed. I'm under no illusion that contracting is all roses. I've done it before and I was very ill-disciplined at it. I think I'm in a much better position to do it right this time, and I'm keeping my head screwed on enough to say that I'd review it frequently and keep other options in mind.

The tricky thing I'm finding right now, is that while I'm still employed it's hard to get into contracting with a 1 month notice period. The past few months have cleaned out my savings a bit otherwise I'd have been handing in my notice and taking the risk. Fun times!

Fuengi

I would think that a contracting or consultant software development in your area with all the science and pharma companies would be the way to go long term.

The problem you have, is that you need to pay the bills and take the leap simultaneously. Easy to do if you plan well, but hard to make that first step of leaving your job.

Can you step down your current hours progressively and pick up some work to fill in. If you plan well and are realistic, you can approach your current employer and be honest about what you want to do.

Speak to someone who has done what you want to do and talk about the the pros and cons.

You'll need to set up as a sole trader, or limited company and get tax advice, discuss invoice payment terms, if you are likely to have to register for VAT (over £81k) and make all that work with the payments you need to make monthly. 

I've done all of this, but got the shove of redundancy rather than choice, but it's a liberating and enjoyable way to work, albeit sometimes frustrating. 

thomasross20

Have to say that commute sounds far too long. 
I'm sick at the thought of mine going from 40 mins each way to an hour each way. Never mind a total of 3 hours + overall. 

roundthebend

@Fuengi I'm not sure where all the science and pharma companies are.....oh, Cambridge.....that's a hellish commute by car and the train station in Cambridge isn't well placed for them, I believe. I work in software development, btw.

I can't realistically reduce my hours and switch to contracting. My employer is unlikely to want to do that, especially given the circumstances - I'm basically being bullied out, so they'll happily keep me to look like they're the good guys, and they'll happily let me go to get rid of me! Contracting roles in my line of work are usually Mon-Fri 9-5, so trying to find a variation to that will be harder than it already is.

I have had some potentially productive news today though, which could mean I'm closer to finding a way to transition. Essentially I've asked if I can shorten my notice period.

@thomasross20 - I wouldn't consider the commute really, but the finances can stack up well and it'll be mostly on the train so I'm going to have to learn how to make the most of that time so that it doesn't become a nightmare.

thomasross20

I used to do the same commute, actually. It was 2 bus trips that took 3 hours all-in both ways. Thankfully it was only for 5 months.